Managing your money

It’s always a good idea to set yourself an affordable budget and stick to it. Putting a plan in place to prevent rent arrears and prioritising household bills occurring will help to ease some of the financial stress around the most expensive times of the year.

Saving regularly is a good and healthy habit. Putting aside some money – whether £5 or £100 – on a regular basis is the best way to build up a savings pot. Make it a habit by saving some money to help build up a chunk of money that you can use for celebrations, or a rainy day. It’s that easy!

If you need help managing your money, have money worries or need information about benefits there are a range of tools and advice available.

Government help

You can get benefits and financial help (opens in new window) on the UK government website. The site includes information on accessing all government services including:

  • benefits
  • work and finding a job
  • services for disabled people.

You may be able to claim a reduction on your council tax bill if you are on Universal Credit. Any reduction will be based on your current circumstances. To find out if you are eligible, make an application with Sutton Council (opens in new window)

Universal Credit

Universal Credit (opens in new window) is a monthly payment for people who are on low income or are out of work. It is paid by the government. Universal Credit is being rolled out in stages across the UK and is replacing some benefits.

Credit Union

The Croydon Merton & Sutton Credit Union (opens in new window) are committed to helping residents with financial solutions for all of life’s unexpected situations. Their aim is to support members of the local community in Croydon, Merton or Sutton with managing their finances. Use their services for:

  • Setting up a savings pot

  • Help with loans

  • Help with income support

Image of Croydon Merton & Sutton Credit Union Logo

Citizens Advice 

Citizens Advice Sutton (opens in new window) offer free, confidential and impartial advice on a range of issues. Speak to them about:

  • benefits
  • debt
  • housing
  • immigration.

Advice Link Partnership Sutton (ALP)

ALP Sutton (opens in new window) offers free confidential, independent and impartial advice to residents of Sutton. They work alongside Citizens Advice Sutton and Age UK Sutton (opens in new window) to provide advice on:

  • debt
  • benefits
  • housing
  • employment
  • social care and caring.

Money Advice Service

The Money Advice Service (opens in new window) is free and impartial. Use it to get:

  • debt and money advice
  • help with budgeting
  • benefits advice.

Benefits calculator

Use a benefit calculator to find out:

  • what benefits you could get
  • how to claim
  • how your benefits will be affected if you start work.

The government website has more information for both universal credit (opens in new window) and housing benefits (opens in new window) and links to helpful, free to use benefits calculators.

Reducing your fuel bills

Sutton Housing Partnership is now working with Energy Angels. They provide a free and impartial energy comparison service which you can use at any time.  To use this FREE service, visit the Energy Angels website (opens in new window), call 01902 585503, or contact your Housing Manager who can make a referral on your behalf.

Other energy-saving tips

You also can reduce your bills by following these energy-saving tips:

  • shut outside doors
  • close curtains at night
  • shut all windows, unless you need ventilation
  • turn the room thermostat down as far as you can, while still remaining comfortable
  • wear warm clothes in winter
  • turn off the heating in late spring and summer
  • boil only the water you need rather than filling the kettle completely
  • don’t leave appliances like televisions in standby mode; they still use electricity; instead, switch them off properly at the ‘off’ switch
  • turn off all lights when you don’t need them.

You may also be entitled to winter fuel payments (opens in new window) from the government.

Further support

If you are worried about being able to pay your rent, your Housing Manager will be available to support you and to discuss a payment plan. This may include looking at ways to maximise your income. 

SHP is committed to supporting residents to live as financially independent as possible. If you have any questions, please don’t hesitate to contact us.